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Tax

Digitisation is simply the conversion of text, pictures, numbers, and sound into a form that can be processed by a computer. Add to this the replacement of feet on the ground with algorithms and programs that respond to certain criteria, and we can start to see where the management of our tax system is drifting….

According to a recent government announcement, 32 million people will be better off as the Finance Bill 2018-19 receives Royal Assent. Treasury Announcement: A basic rate taxpayer will pay over £1,200 less income tax than they did in 2010, thanks to the government’s changes, giving people more help with the cost of living. As well…

The deadline for filing 2017-18 self-assessment tax returns without paying a penalty for late submission has passed (31 January 2019). But a new and pressing deadline now presents itself: 5 April 2019. Tax planning options for 2018-19 As we have outlined in previous posts, most tax planning needs to be considered and actioned before the…

In what amounts to a single-issue mini-budget the Treasury posted a welcome announcement for the manufacturers and consumers of alcoholic products last week. They said: From today, (1 February 2019) taxes on beer, cider and spirits are frozen for another year, keeping costs down for industry and consumers alike. alcohol duty cuts and freezes over…

There must be several hundred separate deadlines for UK tax purposes, but the most common is the end of the tax year. In the UK this is 5 April. Deadly Beginnings Historically, a deadline was a line drawn around a prison. If inmates crossed it, they were shot. This phrase has been extended and is…

A two parent, two child family can claim £34.40 per week in Child Benefit (CB). In a tax year this adds up to £1,789. As is often the case in life, this becomes just part of the housekeeping and is spent. However, let’s look at Mary, John and their two kids. The child benefit is…

We’ve put together a short three minute film highlighting some tax issues you may be affected by, and may need to look out for in 2018 to 2019 tax years. Do yourself a favour and grab a cup of tea and check it out. It could save you a lot of money in the long…

This is the time of year that employers and employees deal with the reporting of Benefits in kind. Taxing times indeed… The provision and use of company cars features in many of these returns, both the use of the car, and if provided, the cost of any fuel provided by the employer for private mileage….

When you complete your tax return for 2017-18, make sure you consider the following expenses. Sometimes they are overlooked. Don’t forget to claim these Approved subscriptions you are required to pay to professional organisations. You must have membership to do your job or it’s helpful for your work. You can’t claim tax back on fees…